Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-30false2022-07-01No description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10835082 2022-07-01 2023-06-30 10835082 2021-07-01 2022-06-30 10835082 2023-06-30 10835082 2022-06-30 10835082 c:Director1 2022-07-01 2023-06-30 10835082 d:FreeholdInvestmentProperty 2023-06-30 10835082 d:FreeholdInvestmentProperty 2022-06-30 10835082 d:CurrentFinancialInstruments 2023-06-30 10835082 d:CurrentFinancialInstruments 2022-06-30 10835082 d:Non-currentFinancialInstruments 2023-06-30 10835082 d:Non-currentFinancialInstruments 2022-06-30 10835082 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 10835082 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 10835082 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 10835082 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 10835082 d:ShareCapital 2023-06-30 10835082 d:ShareCapital 2022-06-30 10835082 d:RetainedEarningsAccumulatedLosses 2023-06-30 10835082 d:RetainedEarningsAccumulatedLosses 2022-06-30 10835082 c:OrdinaryShareClass1 2022-07-01 2023-06-30 10835082 c:OrdinaryShareClass1 2023-06-30 10835082 c:FRS102 2022-07-01 2023-06-30 10835082 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 10835082 c:FullAccounts 2022-07-01 2023-06-30 10835082 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 10835082 2 2022-07-01 2023-06-30 xbrli:shares iso4217:GBP xbrli:pure



Company Registration No. 10835082 (England and Wales)







CAONACH LIMITED

UNAUDITED
FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 JUNE 2023




































Riordan O'Sullivan & Co
Chartered Certified Accountants
40 Chamberlayne Road
London
NW10 3JE

 
CAONACH LIMITED
REGISTERED NUMBER:10835082

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
7,397,280
7,397,280

  
7,397,280
7,397,280

Current assets
  

Cash at bank and in hand
  
251,304
132,998

  
251,304
132,998

Creditors: amounts falling due within one year
 5 
(220,753)
(177,252)

Net current assets/(liabilities)
  
 
 
30,551
 
 
(44,254)

Total assets less current liabilities
  
7,427,831
7,353,026

Creditors: amounts falling due after more than one year
 6 
(6,565,778)
(6,677,825)

  

Net assets
  
862,053
675,201


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
861,953
675,101

  
862,053
675,201


Page 1

 
CAONACH LIMITED
REGISTERED NUMBER:10835082
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 March 2024.




___________________________
Rory Anthony O'Connor
Director

Page 2

 
CAONACH LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Caonach Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19 Corfton Road, London, W5 2HP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and investment properties and certain financial instruments at fair value, unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover represents rent receivable during the year net of VAT. Rental income is recognised on an accrual basis. 

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.
Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

 
2.5

Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

 
2.6

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Page 3

 
CAONACH LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.7

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 1 July 2022
7,397,280



At 30 June 2023
7,397,280







Page 4

 
CAONACH LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
125,055
125,055

Corporation tax
81,848
33,746

Other taxation and social security
9,850
14,601

Other creditors
3,050
3,050

Accruals
950
800

220,753
177,252



6.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
941,121
1,004,473

Director's loan account
5,624,657
5,673,352

6,565,778
6,677,825


Bank loans are secured by first legal charges over some of the  properties owned by the company. Directors loan account is unsecured, interest-free and repayable on demand.


7.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



100  Ordinary shares shares of £1 each
100
100


8.


Controlling party

Rory O'Connor to be the company's ultimate controller because he exercises significant control over the company's activities by virtue of his direct shareholdings.

 
Page 5